The impact of intellectual capital on the Pharmaceutical and Food Industry company’s financial performance : By using Data Envelopment Analysis in the Tehran Stock Exchange

Sammanfattning: Introduction: The Intellectual Capital (IC) term was introduced by Sveiby and his group in Sweden 1986 (Sullivan, 1998). The main point in all organizational analyses is to evaluate performance, and therefore an organization’s success is not imaginable without a performance evaluation system. Performance assessment is a process that measures, evaluates, and judges the performance over time. Performance assessment in organizations is usually established for assuring the effectiveness of activities. Purpose: The purpose of the research is to identify and emphasize the relationship and impact of Intellectual Capital (IC) on the manufacturing companies by analyzing the level of their financial performance in the Tehran Stock Exchange (TSE). Research Question: What is the impact of the Pulic (1998) form of intellectual capital efficiency on the financial performance of manufacturing companies on the Tehran Stock Exchange? Hypothesis: H1: The value-added intellectual coefficient (VAIC) has relation with the financial performance, measured by DEA, of Pharmaceutical and food companies in the Tehran Stock Exchange.H2: The human capital efficiency (HCE) has relation with the financial performance, measured by DEA, of pharmaceutical and food companies in the Tehran Stock Exchange, .H3: The structural capital efficiency (SCE) has relation with the financial performance, measured by DEA, of pharmaceutical and food companies in the Tehran Stock Exchange.H4: The capital employed efficiency (CEE) has relation with the financial performance, measured by DEA, of pharmaceutical and food companies in the Tehran Stock Exchange. Methodology: The methodology used is a Quantitative Method with a deductive, positivism approach. Collection of statistical data is gathered regarding Pharmaceutical & Food manufacturing industries and evaluated IC through Pulic 1998 VAIC model along with observed FP through the DEA method. After getting the VAIC and FP regression method is used to test our Hypothesis Results: Except H2 with pharmaceutical and H3 with food industries all other hypothesizes are accepted